Chris Keenan, an investment broker with Marcus & Millichap Real Estate Investment Brokerage Co., tells GlobeSt.com that Mesa Springs LLC outmaneuvered five would-be buyers to claim the 1.4-acre property at 1234 S. Power Rd. "This is a very unique office building because it's right on the outskirts of Superstition Springs Center Mall," he says, adding there's four million sf of retail in the area, but very little office space.

"This was an aggressively priced investment," the seller's broker says. "There's not a whole lot of upside because there's very little vacancy and the rents are at the top of the market." Currently, Superstition Springs Corporate Plaza is 90% occupied by a variety of small tenants. The 17-year-old building boasts an average rent of $19.58 per sf, full-service.

Keenan says Mesa Springs LLC, marking its first acquisition in the Valley, not only was the highest offer, but offered the most aggressive closing timeline for the seller, Power Road Holdings LLC of Bainbridge Island, WA. Michael Hackett of Marcus & Millichap represented the buyer.